Hello ai.uavs,
If you wish to read the altitude information from the exported DEM, then it is necessary to use the dedicated GIS applications, sich as QGIS, Global Mapper, ArcGIS. These applications have their own tools to configure the false colors (RGB) representation of the DEM based on the altitude information.
Or upload the DEM to on of the available hosting resources for such data (Metashape supports direct upload for some of them, check Upload option in the File menu).
In case you are interested only in RGB representation of the DEM, like it is displayed in Metashape window, then during the export enable Palette option in the Raster Transform section of the Export DEM dialog. Such "transformed" DEM can be exported to GeoTIFF format to keep the georeferencing and planar scale or saved to JPG.